haku: @indexterm Financial crises / yhteensä: 181
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| Tekijä: | Marin, D. Schnitzer, M. |
| Otsikko: | Disorganization and financial collapse |
| Lehti: | European Economic Review
2005 : FEB, VOL. 49:2, p. 387-408 |
| Asiasana: | Financial crises Credit Transition economies Ukraine |
| Vapaa asiasana: | Credit constraint Barter |
| Kieli: | eng |
| Tiivistelmä: | Since the fall of communism, the former Soviet Union experienced a strong output decline and a dramatic increase in arrears and barter. The authors develop a model which explains how these three phenomena are connected. They introduce liquidity and credit constraints into a model of disorganization and show how these problems can alleviate the hold-up problem. The authors argue further that barter creates a hostage that allows to dela with disorganization when credit enforcement becomes prohibitively costly. Based on a firm survey in Ukraine in 1997, they thest how input shortages financial shortages and barter affect output growth on firms. |
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